The Federal
Acquisition Regulations (FAR 52.216-7) require that government
contractors submit an incurred cost proposal within 6 months after the
end of its fiscal year. This applies to contractors with
cost reimbursable contracts or time-and-material contracts where
G&A or Material Handling rates are billed to the government.
If you do not provide a submission, DCAA may recommend that the contracting officer make a unilateral determination.In a unilateral determination, the contracting officer will determine your indirect cost rates for you.These
rates will apply to all contracts, both pending and closed and these
rates could be considerably lower that your actual rates. In addition,
you could receive penalties for including expressly unallowable costs,
or costs previously determined to be unallowable for your company, in
your indirect cost submission.
Preparing the incurred cost submission can be a time-consuming task for an understaffed small business.We can assist you in preparing your submission and supporting data.We provide the following services:
Preparing the electronic incurred cost rate proposal
Compiling supporting documentation to accompany the submission
Reviewing target accounts for expressly unallowable costs
Preparing client recommendations for improvements
Cheryl Jefferson & Associates, LLC CPA | Consultant 8950 Old Annapolis Rd, Suite 219 | Columbia, MD 21045 | 410.772.0065
